Northern NJ Weekly Inventory Update 12/7
Another decline in active listings this week, the rate at which sellers have been retreating is starting to show a marked uptrend..
GSMLS
(Berg, Ess, Hud, Mor, Pas, Som, Sus, Uni, War)
11/30 - 12624
12/07 - 12316
Added this week: 933 (Up from 797 last week)
Sold this week: 732 (Up from 517 last week)
Removed (Expired/Withdrawn): 655 (Up from 410 last week)
NJMLS
(Ber, Ess, Hud, Pas)
11/30 - 5771
12/07 - 5717
Hudson MLS
11/30 - 1804
12/07 - 1807
To give everyone an idea of where inventory levels have fallen to, the GSMLS levels I'm seeing this week are about what we saw in late September. NJMLS is about mid October. However, Hudson MLS is still pushing new highs weekly.
Caveat Emptor!
Grim
GSMLS
(Berg, Ess, Hud, Mor, Pas, Som, Sus, Uni, War)
11/30 - 12624
12/07 - 12316
Added this week: 933 (Up from 797 last week)
Sold this week: 732 (Up from 517 last week)
Removed (Expired/Withdrawn): 655 (Up from 410 last week)
NJMLS
(Ber, Ess, Hud, Pas)
11/30 - 5771
12/07 - 5717
Hudson MLS
11/30 - 1804
12/07 - 1807
To give everyone an idea of where inventory levels have fallen to, the GSMLS levels I'm seeing this week are about what we saw in late September. NJMLS is about mid October. However, Hudson MLS is still pushing new highs weekly.
Caveat Emptor!
Grim
6 Comments:
You would need to have access to sales data (be it weekly postings in local news papers or some other way) or access to the MLS the property was listed under.
grim
How are you looking up those properties, it wouldn't happen to be by MLS number (or a link to realtor.com or other) would it?
grim
Toll Brothers profits have soared. The real estate rally rolls onwards!
Mr. Toll was on CNBC couple of minutes back and he agrees to the slowdown in the market. A lot of speculators/investors have fled the market. Toll brothers profit soared until now, but will return to 1995 levels from now on.
TOL and HOV also guided Q1 and FY06 numbers lower than expected.
I've always firmly believed that homebuilder profits should never be used as any kind of predictive indicator of the existing residential home market. Residential homebuilders, especially TOL, have enough margin on home sales to be able to reduce prices and remain profitable through a downturn.
Would I invest in them? Heck no, in fact I'd argue to reload your short positions in TOL, but that's only my opinion, don't take it as investment advice.
jb
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